COPPERBELT University third- year student Mubiana Sinyinda famously known on social media for his humorous advertisement of Mongu rice, has received K 15,000 from Investrust Bank.
Investrust Bank managing director Simangolwa Shakalima said Mr Sinyinda’s entrepreneurship skills caught the attention of the financial institution, which has decided to give him K10, 000 to expand his business and K5,000 for his upkeep in school. https://epaper.daily-mail.co.zm/
Source: Zambia Daily Mail
INVESTRUCT Bank Plc has invested over K70 million to improve digital platforms and enhance service experience for its customers.
Bank managing director Simangolwa Shakalima said the financial institution has integrated platforms such as Zoona and ZAMTEL to enable customers to transfer money from bank accounts to the mobile platforms and vice versa. https://epaper.daily-mail.co.zm/
Source: Zambia Daily Mail
INVESTRUST Bank PLC has invested over K70 million in upgrading its systems so that it is able to offer efficient and improved services to customers.
Managing Director Siamangolwa Shakalima said the 100 percent locally owned bank has in the last five years heavily invested in its systems so as to offer quality services to customers.
Mr Shakalima was speaking at a customer engagement cocktail at Garden Court Hotel in Kitwe at the weekend.
He said Zambia being an economy that was largely supported by Small and Medium Enterprises (SMEs) the bank improved services to the sector.
He said the bank was committed to supporting SMEs as well as other critical sectors.
“In the last five years we have invested heavily in digital channels and if you look at our investment over K70 million to upgrade our systems including digital platforms, we offer mobile banking and an Investrust application and agency banking system,” he said.
Mr Shakalima said that his institution was also looking at enhancing capital base and with its partnership with ZCCM-IH, the bank was confident to reach higher heights.
At the same function, ZCCM-IH acting Chief Executive Officer Mavuto Chipata said the company has made a commitment to recapitalise the bank in order to address the minimum regulatory capital, liquidity and increase overall business capacity.
Mr Chipata said ZCCM-IH spent K25 million in acquiring shares in the bank, making it the largest shareholder with 71.4 percent.
He said this was part of ZCCM-IH strategy to diversify its portfolio and to tap into new sources of consistent income.
And Copperbelt Minister, Japhen Mwakalombe, said most local entrepreneurs lacked access to financial resources and commended Investrust for supporting and helping SMEs to grow.
Mr Mwakalombe said Investrust did not only support small businesses with bank services, but also technical support needed to grow businesses.
The minister said in today’s world small and medium businesses were seen more as a vehicle for entrepreneurship, contributing to employment opportunities and social stability of the economy.
He further said with over 400 employees in the country Investrust, was making its mark in improving the quality of lives of many people.
Source: Daily Nation
In accordance with Section 3.59 of the Lusaka Securities Exchange Listing Rules, the Board of Investrust Bank Plc (“the Board”) wishes to announce the appointment of the following non-executive Directors to the board with effect from 25th March 2019:-
1. Mr. Situmbeko C. Mubano
2. Mr. Siakamwi Chikuba
Mr. Mubano holds a Bachelor of Arts in Economics & Statistics from the University of Zambia (“UNZA”) and is an economist and investment management professional with over 18 years of experience. Mr. Chikuba holds a Bachelor of Law degree from UNZA and is a legal practitioner with over 10 years of experience as a lawyer.
The Board would like to congratulate Mr. Mubano and Mr. Chikuba on their appointment to the Board and wishes them the best in their new roles.
By Order of the Board
Brian Msidi
Company Secretary
Issued in Lusaka, Zambia on 01 April 2019
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First Issued on 01 April 2019
In accordance with Section 3.59 of the Lusaka Securities Exchange Listing Rules, the Board of Investrust Bank Plc (“the Board”) wishes to announce the resignation of the following non-executive Directors from the board with effect from 11th March 2019:-
The Board would like to thank the Directors for their services to the Bank and wishes them the best in their future endeavours.
By Order of the Board
Brian Msidi
Company Secretary
Issued in Lusaka, Zambia on 25 March 2019
| Lusaka Securities Exchange Sponsoring Broker | |
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T | +260-211-232456 E | advisory@sbz.com.zm W | www.sbz.com.zm Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia |
First Issued on 25 March 2019
Autonomous solutions provider RCT says it has entered into a project to provide autonomous technology to the Lubambe underground copper mine in Zambia.
The deal involves RCT commissioning its ControlMaster® Guidance Automation on three Epiroc ST18 and two Sandvik LH517 LHDs at the mine. These machines will be managed via five automation stations located in tele-cabins.
RCT’s Guidance lets operators remotely control the machine from a comfortable air-conditioned cabin, according to the company. The system automatically steers the machine to avoid collisions, enabling higher speeds, eliminating damage and improving productivity.
The technology will be installed in June with operator training to occur simultaneously, RCT said.
Lubambe is 80% owned by EMR Capital Resources, with 20% held by ZCCM Investments Holdings. In the nine months to March 31, 2018, the mine produced 14,891 t of contained copper.
Source: International Mining
In the modern mining industry, one will find that most of the industry’s reputable operators have implemented a safety strategy.
The slogan “one life lost is one life to many” is regularly used as the key message in most occupational safety drives – all with varying success.
A clear success story is Mopani Copper Mines, who implemented its SAFEMINING plan in 2014.
This vigorously driven strategy has not only proven successful at Mopani’s many mines, but it is proving to be a beacon of excellence within the mining industry.
At Mopani Copper Mine’s Kitwe operations in Zambia, there is a clear success story in Group R Mining & Exploration Zambia – an operating subsidiary of Pan African mechanised and trackless mining contractor Group R Holdings of Mauritius.
Not only did Group R embrace the SAFEMINING drive of Mopani Copper Mines, but has made it part of their daily conduct and business DNA.
The success of this is evident in that Group R has not had a single work fatality since its inception in 2010.
Moreover, the company has achieved an enviable track record of working five years without a single lost-time injury (LTI), a milestone that was achieved in late December 2018 at Mopani’s SOB Shaft.
“We at Mopani are extremely proud of the achievements of Group R and their unwavering dedication to mine safety. We would like to see this dedication and passion from all our contractors in all our operations” says Mopani Copper Mines CEO Chris Vermeulen.
The management team at Group R is firm in its approach to mine safety. Daily safety meetings are not seen as a tedious task but forms an integral part of its planning, policy-making and operational systems.
It is Group R’s belief that safety must be front of mind in everything that you do.
“Our client, Mopani Copper Mines, introduced and demanded that we work according to their international best standards for safety. As a contractor we had the choice to merely tick the boxes and show compliance or to embrace the spirit of the standards. We chose to embrace their safety protocol as part of our operations” says Group R Holdings COO Hein van Staden.
Group R believes that its five year LTI-free safety achievement at Mopani Copper Mines is merely just a measure of past performance and that providing a safe working space is not based on the past, but rather based on the continual safety performance of each and every future shift. Every shift demands 110% dedication.
“At Group R we believe that the management team is the greatest driver of operational safety, while our workers are the true custodians of safe practice. This is evident in their dedicated to daily safety at work,” say Van Staden.
Group R believes it its duty as African operator to be responsible for continuously investing in the incubation of a better, more inclusive and safer working environment within the African mining sector. This dedication is clearly visible through the safety accolades that it has achieved.
As a proud Zambian company, Group R Mining & Exploration Zambia would like to showcase to the world that Zambia has world-class mining contractors helping to benchmark Zambia’s mining sector on the African continent.
Source: Mining Review Africa
Copperbelt Energy Corporation Plc, Energy, ZCCM-Investment Holdings Plc
Posted on February 6, 2019 at 6:59 pm.
Written by Founder Fi
Following Copperbelt Energy (CEC Plc) disposing off its 50% shareholding in CEC Liquid Telecommunication Limited (CEC Liquid Telecom) to pan-African telecoms group, Liquid Telecommunication Holdings Limited (Liquid Telecom) in October 2018, investors in the company waited with baited breath for the CFO through his subcommittee on the board to conclude deliberations for the submission of the recommended special dividend from the proceeds of the sale.
The announcement that came on 1st February 2019 of a special dividend marked a four month wait for investors. The Board of CEC approved the payment of an interim dividend of US Cents 1.9 per ordinary share which translates to ZMW 0.2267 per share according to the SENS announcement that was issued.
Investors such as ZCCM IH which has shown intent on increasing its energy investment by increasing its shareholder by 4% in November 2018, will be pleased with this development as they bought the shares at an appropriate time that will see the investment group benefit from the announcement windfall.
IDC owned ZCCM-IH now owns 24 per cent shares acquired in the November 2018 transaction. At 1.6 Billion shares in issue, ZCCM IH now owns a staggering 390 thousand shares. This translates to their payment on 4th March 2019 (the effective date of payment for the dividend) US$ 7.41 million or K 88.4 million at an exchange rate of 11.93 kwacha to a dollar.
A recap of the rationale of the investment indicates that CEC entered into a Joint Venture with Liquid Telecom as equal partners in 2011. However, 8 years later, the Owen Silavwe led management team backed by the management’s belief system of entering into a telecommunications union with Liquid Telcom led them on a path that saw the entities assets attaining the desired commercial status that was in their strategy.
Although the company does not provide clear indications as to why divesture happened last year in their statement on the disposal, Liquid Telcom’s generous acquisition now sees investors having a handsome windfall in the early months of 2019.
Source: FIZAMBIA
Zambia is among the world’s ten topmost producers of copper with Chibuluma Mine being on the ninth position in the world, according Mining for Zambia website.
The website says Chibuluma Mine on the Copperbelt province which has an average copper grade of three percent, is a shining example of a well-run, profitable enterprise.
“ Chibuluma, which is a relatively small mine by Zambian standards, has paid over $100 million in tax since 2007, and has had one fatality in eight years,” it adds.
The website says although only one Zambian mine makes its list, as the country’s copper grades are generally reduced after many decades of mining.
Modern Zambian mining operations have become highly efficient, to make do with reduced ore grades, and remain a major contributor to the country’s economy and exports.
The average growth of the Zambian mining industry between 2017 and 2021 is expected to be about 5.5 percent, meaning that the sector will continue to be a vital contributor to employment and the broader economy.
Topping the list is Sudbury (also known as Victoria) mine in Canada, North America where the grade of ore is nearly eight percent.
The underground mine is found in a unique geological area, caused by a meteorite crashing into earth nearly 2 billion years ago. One of Sudbury’s main shareholders is KGHM, which has its roots in a Polish state mining company.
Las Cruces Copper mine in Spain owned by First Quantum Minerals (FQM), which operates a number of mines in Zambia is second. Average copper grade at this opencast mine is five percent. Operations began in 2009 and are expected to continue until 2022.
Thanks to innovative technology at the mine, copper cathode produced at the mine is very pure. According to FQM, copper cathode produced at this mine reaches a maximum quality of 99.9 percent copper.
The Kinsenda mine in the DR Congo is third recognised. The mine is very close to Kasumbalesa, a town on the Zambian border, and is owned by a South African company, Metorex.
The average grade of copper at this mine is 4.8 percent. It is another underground mine and operations are expected to continue until 2025.
Fourth recognised is Degrussa Coppermine in Australia, and CSA mine also of Australia on the fifth position while Kinsevere open-pit Coppermine owned by MMG.in neighboring, DRC takes sixth position.
KOV Coppermine which is an opencast mine and is the largest high-grade copper operation in the world takes is seventh recognised. Its primary shareholders are Glencore and Gécamines, the Congolese state-owned mining company. The average grade of copper at KOV is 4.2 percent.
Kinsevere Coppermine also of the DR Congo and Reed Coppermine in Canada are seventh and eighth recognised copper mines in the world, respectively according to the website.
According to the same website, the copper mine with the tenth-highest grade of copper in the world is found in southern Laos, a country in south-east Asia
Source: Zambia Reports
Lubambe mine has announced that the mining company is this year projected to increase production by over 60 percent.
Chief Executive Officer (CEO) Nick Bowen said in Lusaka yesterday Lubambe mine last year recorded a 22 percent increase in copper production.
He said this after a meeting with Republican President Edgar Lungu at State House in Lusaka, this morning.
It produced 22,000 tonnes of copper which is the biggest increase that has happened to the mine since it was opened.
Mr Bowen said this year the mine again is projected to produce 36,000 tonnes of copper increasing production by over 60 percent.
This will help the company achieve its design capacity of 45,000 tonnes by 2020.
On the new tax regime Mr Bowen said government is looking at earning enough from the mines and that what is important is stakeholder engagement, which is already happening.
He said the mine will continue operating and will not cut down on jobs.
” We have been working closely with the government. We understand their objective is to get more income for Zambians and the increase in production is going to deliver so much more in taxes. The more we produce the more taxes the government will earn,” Mr Bowen said.
The mine has over 1,250 employees and 1,250 contractors,” the great position we are in. We need more workers, not less” he said.
He, however, assured the Head of State that the mine will not reduce its workforce as the current one has managed to increase production for the firm.
Mr Bowen said the mine has discovered 200,000 million tonne new ore body with a seven (7) million tonnes of copper at eight (8) percent, which is a high-grade rate according to global standards.
He said the mine is now processing all the neccessary papers with government to start explorations and is expected to invest US$500 million in its operations from next year.
This will create more than 1,000 jobs at construction stage, which will take five (5) years and over 2,000 new jobs will be created when the mine becomes operational.
Source: Lusaka Times